Ramkrishna Forgings Ltd on Monday announced that the company has bagged a contract worth $13.16 million (around ₹109.29 crore) from a leading North American axle manufacturing company. This marks a significant milestone for Ramkrishna Forgings, further increasing its penetration into the North American market.
As per the strategic partnership with the prominent North American axle manufacturer, Ramkrishna Forgings will supply rear axle components and services for the off-highway sector over the upcoming four years, the company said in a filing to the stock exchanges.
Ramkrishna Forgings, the leading supplier of rolled, forged and machined products, emerged as the ideal choice of original equipment manufacturers (OEMs) for enhancing its offerings even more and meeting the increasing demands of the market.
"This partnership not only strengthens our global footprint but also reaffirms our commitment to delivering excellence in every component we manufacture," stated the Whole Time Director and Chief Financial Officer of Ramkrishna Forgings, Lalit Kumar Khetan.
The said contract with the North American axle manufacturer emphasises Ramkrishna Forgings’ dedication to technological advancement, precision engineering, and unparalleled customer service, which not only demonstrates the company’s exceptional product quality and reliability but also showcases its commitment to establishing itself as a key player in the North American automotive landscape, Ramkrishna Forgings noted in a press release on February 5, 2024.
Ramkrishna Forgings Ltd shares were trading almost flat at ₹770.05 apiece, down 0.09%, on BSE at 2:06 PM.
(Edited by : Ajay Vaishnav)
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